Which of the following shift the quinoa supply curve to the right? O a. The world-wide outbreak of a deadly virus which makes the transportation of quinoa more difficult. O b. Consumers become more aware of the health benefits of Quinoa. O c. Major quinoa farmers in the world form a cartel. O d. Quinoa farms adopt a better production technology and reduces its marginal cost.

Which of the following shift the quinoa supply curve to the right? O a. The world-wide outbreak of a deadly virus which makes the transportation of quinoa more difficult. O b. Consumers become more aware of the health benefits of Quinoa. O c. Major quinoa farmers in the world form a cartel. O d. Quinoa farms adopt a better production technology and reduces its marginal cost.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter25: Monopoly

Section: Chapter Questions

Problem 6E

See similar textbooks

Similar questions

15. The inverse demand for Harley Davidson motorcycles is P = 40, 000 – 10Q, where P is given by the price in dollars and Q measures the number of units sold each month. Harley Davidson is currently producing motorcycles at a constant marginal and average cost of $16,000. a. Solve for the profit-maximizing price and quantity of Harley Davidson motorcycles. b. Heavy tariffs on imported steel drive up Harley's marginal and average cost by $2,000. How do these tariffs affect Harley's profit-maximizing price and quantity? How will the tariffs affect Harley's profits?
Gaynor is the only manufacturer of gas pumps that automatically refill. Gaynor can earn a profit on the sale of these gas pumps a.in the long run but not the short run because the monopolist will face competition in the short run. b.in the long and short run because entry into the industry by new firms is blocked. c.only in the long run because government regulations prevent monopolists from earning profits in the short run. d.in the short run but not in the long run because new firms will enter the industry in the long run.
2Help plz
Please do fast ASAP fast
Which is more important demand or supply in the economic marketing? Or is demand more important than supply? Or is supply more important than demand? Comment
Use a supply-and-demand diagram of a competitivemarket to illustrate the qualitative effects of the following possible shocks in the Italian market for red wine.a. A new research study shows that red winehelps prevent heart disease, stave off aging, and reduce age-related memory decline.b. Trade barriers that restricted imports of red wine from countries outside the European Union are eliminated.c. A recession in Italy causes a decline in per capita income.d. Genetically engineered wine grapes are created that allow for greater red wine production without increasing cost.
Which of the following is a difference between a monopolistically compettive market and a monopoly in the long run? OA. Firms in a monopolistically competitive market eam zero economic profits in the long run, while a monopolist incurs losses in the long run. B. Firms in a monopolistically competitive market charge a price higher than marginal cast in the long run, while a monopolist charges a price equal to marginal cast in the long run OC. Firms in a monopolistically competitive market car zero economic profits in the long run, while a monopolist usually carns positive economic profits in the long run. OD. Firms in a monopolistically competitive market charge a price lower than merginal cost in the long run, while a monopolist charges a price equal to merginel cost in the long run.
Gaynor is the only manufacturer of gas pumps that automatically refill. Gaynor can earn a profit on the sale of these gas pumps a. in the short run but not in the long run because new firms will enter the industry in the long run. b. in the long run but not the short run because the monopolist will face competition in the short run. c. only in the long run because government regulations prevent monopolists from earning profits in the short run. d. in the long and short run because entry into the industry by new firms is blocked.
1. Draw a graph of a typical natural monopoly with declining costs. a. Label monopoly price and quantity. Identify the area of deadweight loss when the monopoly chooses the profit-maximizing level of output. b. Label marginal cost price and quantity. i. How will the area of deadweight loss be impacted with marginal cost pricing? ii. What are the drawbacks to this approach? c. Label fair return price and quantity. What are the pros and cons of fair return pricing? d. What is incentive regulation? What are the positive and negative impacts of this strategy?
A product market has only one seller.. There are no close substitutes for the product. What type of market is this and how does it set prices? Select one: a. It is an example of monopolistic competition where firms charge the same price. b. It is an example of perfect competition with market power. c. It is an example of a monopoly which set prices based on market demand. d. There is no way to tell where prices come from without knowing what the product is. e. It is a monopolistically competitive firm that can charge whatever it wants to charge.
I am a Solar panel company, that manufactures and distributes solar panels in the US market. Two years ago it had 5 competitors but the government stimulus in the industry has encouraged 7 new US competitors ti ebter the market. In these circumstances, my solar panel company's price for its output ......
e ap sep 0 ja ajaloo Purwas ap o Consider a town in which only two residents, Clancy and Eileen, own wells that produce water safe for drinking. Clancy and Eileen can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Tab Caps Lock Price (Dollars per gallon) 6.00 5.50 5.00 4.50 Esc is 81°F Sunny 4.00 3.50 3.00 2.50 2.00 1.50 1.00 ! 0.50 0 7 Q A Quantity Demanded (Gallons of water) 0 45 17 F2 8- @ Suppose Clancy and Eileen form a cartel and behave as a monopolist. The profit-maximizing price is $ gallons. As part of their cartel agreement, Clancy and Eileen agree to split production equally. Therefore, Clancy's profit is - C VE 2 W 90 135 S. 180 225 270 315 360 405 450 495 540 F3 0+ #M 3 Total Revenue (Dollars) 0 $247.50 $450.00 $607.50 $720.00 $787.50 $810.00 $787.50 $720.00 $607.50 E F4 BO $450.00 $247.50 0 D $ 4 F5 R F % 5 F6 D T F7 ^ 6 G 4- Y FB J+ & 7 per gallon, and the total…